Episode overview
In this episode of The Duct Tape Marketing PodcastJohn Jantsch interviews
Peter Holtzfounder of Peter Holtz CPA and former Big Four accountant and
CFO of many companies. Peter explains why many business owners overpay taxes without realizing it
and how strict tax planning can legally reduce tax liability—sometimes by tens or even more
hundreds of thousands of dollars.
Peter breaks down the difference between standard tax compliance and strategic tax
planning, sharing why most tax preparers simply fill out forms instead
diligently looking for opportunities to save their customers money. He discusses the general tax
techniques that many businesses miss, including the Augusta Rule, hiring children in the
business, increasing depreciation, and business planning.
The discussion also examines the attitude that many entrepreneurs have about profit, i
the importance of creating a tax strategy in business planning, and the financial approach of the CFO level
A vision can help business owners make smart long-term decisions.
If you’re a business owner who only talks to your CPA at tax time, this episode explains why
that approach may cost you dearly—and how to fix it.
Guest Bio
Peter Holtz is a CPA and former CFO who helps business owners save more
what they get by using an effective tax strategy. He has built and mentored 8 people
companies, leads i Inc. 5000 again Top 500 IPA accounting
strong, and is known for restructuring taxes as a long-term wealth decision rather than a
job once a year.
With decades of experience in accounting and CFO consulting, Peter is focused on helping
Businesses can legally reduce their tax burden through year-round tax planning and strategies
financial guidance.
Key Takeaways
1. Most CPAs Focus Only on Compliance
When it’s over 1.2 million professionals are licensed to prepare taxes in the US,
only about 1,100 are certified tax preparers. Most accountants just walk in
numbers into forms rather than actively looking for tax saving opportunities.
2. Waiting Until Tax Season Costs Businesses Money
Tax planning should take place throughout the year. Many tax-saving measures—such as shopping,
depreciation techniques, or business structure—must be used before December 31
affecting taxes for that year.
3. Business Owners Missing Common Tax Tricks
Peter often sees entrepreneurs miss legitimate deductions and strategies like these:
- Home office returns
- Augusta Law (renting your home to your business)
- Employing children in business
- Depreciation properly
- Correct business structure
These missed opportunities can add up to big tax bills.
4. Shifting Costs from After-Tax to Pre-Tax is Powerful
One of the most effective strategies is to turn personal expenses into a legitimate business
costs if applicable. Additional costs you can deduct after tax dollars to
pre-tax dollarsthis is where you lower your taxable income.
5. Profit Must Be Considered Important
Most entrepreneurs aim only to “pay the bills,” rather than intentionally create a profit
in their business model. Peter emphasizes the importance of planning for income, retirement,
health care, and future financial goals as part of the business structure.
6. Financial Strategy Needs to Ask Better Questions
A great tax advisor doesn’t just prepare a return—he asks serious questions about yours
business, goals, assets, and family situation to open up opportunities that many accountants miss.
Best Moments From The Episode
- 00:02 – Introduction by Peter Holtz
John introduces Peter Holtz and his background as a Big Four accountant and founder of a fast-growing CPA firm. - 01:05 — The Cost of Waiting Until Tax Season
Peter explains that delaying tax preparation until March can cost businesses tens or hundreds of thousands of dollars. - 02:05 — Why Most CPAs Don’t Do Tax Strategy
Peter breaks down the difference between compliance accountants and certified tax preparers. - 03:26 — How the Tax Code Encourages Economic Activity
A discussion of how government tax policies encourage investment such as real estate and infrastructure. - 06:51 — The Most Common Tax Savings Business Owners Miss
Peter highlights overlooked strategies including Augusta’s Law, home office recovery, and paying children for business. - 11:09 — Diagnosing Tax Problems vs Cash Flow Problems
Peter explains how reviewing tax returns and balance sheets reveals missed opportunities. - 12:27 — When Businesses Need CFO-Level Thinking
The discussion turns to financial strategy and how the CFO’s insights help business owners make smart growth decisions. - 14:55 — Mysterious Relationship with Profit
John and Peter discuss why many entrepreneurs mismanage profits and how that mindset hurts long-term success. - 20:12 — How Much Should Businesses Push the Tax Strategy?
Peter shares a real example of pushing the boundaries of tax law legally and successfully defending it through documentation. - 24:14 — Where You Can Learn More
Peter shares resources and a free tax strategy session available to business owners.
Memorable Quotes
“If you don’t plan your taxes throughout the year, you’re probably paying more than you need to.”
“The more you can shift costs from after-tax dollars to pre-tax dollars, the more money you save.”
“Most accountants focus on putting numbers in boxes. A tax planning strategy starts with asking the right questions.”
Resources and Links
Website:
peterholtzcpa.com
A Special Resource for Duct Tape Marketing Listeners:
Tax Strategy Playbook & Tax Audit – Self-assessments and strategic reviews designed to help business owners identify gaps in their current tax structure and determine whether their structure is compatible with how their business is growing.
Find a special resource here
